MNI: GERMANY DEC PRODUCER PRICES -0.1% M/M, 0.8% Y/Y

MNI BRIEF: China Steel Industry To Control Capacity Further

MNI BRIEF: China, US To Strengthen Trade Dialogue - Official

MNI: China CFETS Yuan Index Down 0.05% In Week of Jan 17

MNI: PBOC Net Injects CNY98.2 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1886 Mon; -1.80% Y/Y

MNI: GERMANY DEC PRODUCER PRICES +0.8% Y/Y

JAPAN DATA: Japan November Machine Orders +3.4% M/M

MNI JAPAN NOV CORE MACHINE ORDERS +3.4% M/M; OCT +2.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BRENT TECHS: BRENT TECHS: (H5) Impulsive Bull Phase

BRENT TECHS
Commodities TechEnergy BulletsBulletEnergy Technical AnalysisCommodities
  • RES 4: $85.85 - 1.382 proj of the Sep 10 - Oct 7 - 29 price swing    
  • RES 3: $84.63 - High Apr 12 ‘24 and a key M/T resistance
  • RES 2: $83.79 - High Jul 5 and a key resistance
  • RES 1: $82.63 - High Jan 15           
  • PRICE: $80.70 @ 07:06 GMT Jan 20 
  • SUP 1: $79.62 - Low Jan 15    
  • SUP 2: $77.44 - 20-day EMA 
  • SUP 3: $71.59 - Low Dec 20
  • SUP 4: $70.52 - Low Dec 6 

Brent futures remain in an uptrend and the contract traded higher last week. The latest recovery confirms a continuation of the bull cycle and an acceleration of it. Key resistance at $79.50, the Oct 7 high, has been breached. Clearance of this level strengthens the bullish theme and opens $83.79, the Jul 5 high. Key short-term support is seen at $77.44, the 20-day EMA. A pullback would allow an overbought condition to unwind.

152 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • RES 4: $85.85 - 1.382 proj of the Sep 10 - Oct 7 - 29 price swing    
  • RES 3: $84.63 - High Apr 12 ‘24 and a key M/T resistance
  • RES 2: $83.79 - High Jul 5 and a key resistance
  • RES 1: $82.63 - High Jan 15           
  • PRICE: $80.70 @ 07:06 GMT Jan 20 
  • SUP 1: $79.62 - Low Jan 15    
  • SUP 2: $77.44 - 20-day EMA 
  • SUP 3: $71.59 - Low Dec 20
  • SUP 4: $70.52 - Low Dec 6 

Brent futures remain in an uptrend and the contract traded higher last week. The latest recovery confirms a continuation of the bull cycle and an acceleration of it. Key resistance at $79.50, the Oct 7 high, has been breached. Clearance of this level strengthens the bullish theme and opens $83.79, the Jul 5 high. Key short-term support is seen at $77.44, the 20-day EMA. A pullback would allow an overbought condition to unwind.